Wedoany.com Report-Mar 6, Bank Nord/LB has announced a €87m financing package for the 209MWh Stendal BESS site in Germany being constructed by Nofar Energy.

It becomes the second large-scale BESS project ever to be financed in Germany, and is set to go live in 2026.

The project features a first-of-its-kind Tolling Agreement, also known as fIxed-price FPA, that will protect against market volatility and secure a stable and predictable revenue stream for Nofar Energy.

The BESS site is located in Stendal, Saxony-Anhalt, Germany, and will store energy to help stabilise the local grid in the region.

Florian Hock, senior director at Nord/LB, said: "This deal marks a significant milestone for Nord/LB in Germany as we continue to deliver on our mission to finance important projects that accelerate the renewable energy transition across Europe.

"This BESS deal is our first in Germany, and we’ll utilise our comprehensive financing expertise to help develop future ones across the country that are essential to solving the solar and wind intermittency challenge.

"We’re delighted to work with Nofar Energy on this critically important project that will ensure more stability and storage support for the electricity grid – vital for the continued buildout of renewables."

Nadav Tenne, chief executive of Nofar Energy, added: "We are delighted to announce the successful financial close of the Stendal project, our first energy storage venture in Germany.

"This milestone further solidifies Nofar’s leadership in the European BESS market.

"It also builds on another key achievement—securing an innovative tolling agreement for the project just recently, which ensures revenue stability.

"Together, these milestones reinforce our position at the forefront of the global energy storage sector and demonstrate our strong commercial and technical expertise.

"I extend my sincere gratitude to the NORD/LB team for their trust and collaboration. As one of Europe’s leading financial institutions, their support has been invaluable, and I look forward to building on this partnership in Germany and beyond."